Austin Home Sales Break Record In 2014

The Austin-area housing market set a record for home sales last year, according to the Austin Board of Realtors.

According to the board’s report, 27,768 homes sold in the Austin area last year, a 2 percent increase from 2013.

December home sales also broke records. The report states 2,283 single-family homes were sold in the Austin area in December, a 14 percent increase compared to December 2013 and an all-time high for Austin-area home sales in the month of December.

In 2014, median home price increased by 8 percent to $242,500. The total value of homes sold topped $8.6 billion in 2013, an increase of more than $673 million from 2013.

Homes spent an average of 47 days on the market, three days fewer than homes sold in 2013.

Townhome and condominium sales also increased in December, with 222 sold, a 6 percent increase from 2014. However, over the course of 2014, 3,150 Austin condos were sold, which is “statistically unchanged compared to 2013,” according to the report. The median price for a condo was $215,000, a 10 percent increase from 2013. Condos spent an average of 43 days on the market, nine days fewer than 2013.

Leasing also increased last year, with a total of 16,960 properties leased in the Austin area in 2014, a 4 percent increase from 2013. The median lease price was $1,480, a 6 percent increase from 2013.